OVERVIEW

The plot in Montenegro, located in the municipality of Herceg Novi, the resort of Genovici, on the shore of the Bay of Kotor with an area of 1,873 sq. m., includes 65 m of the Adriatic coast with its registered pier.  The ownership of the land is registered. Currently, the construction of a box house with an area of 320 sq.m. + garage has been completed.  The site occupies an exceptional position: it is here that the Azerbaijani state oil company Socar, represented by the developer One and Only, decided to build the first hotel complex in Europe worth more than 800 million euros, the analogue of which is the Porto Montenegro marina. The complex is planned to accommodate 150 elite rooms and villas, a SPA center, a tennis academy, restaurants, retail facilities, a world-class marina. This will be the first “One and Only” hotel in Europe. One of the most famous projects of the developer is The Palm, Dubai in the UAE.   Due to the beginning of the construction of the hotel complex, the cost of the plot increases every day. With the development of the resort's infrastructure, the cost will only grow. According to official data, the price of 1 sq. m. of housing in the Porto Montenegro area has increased more than 3 times after the completion of construction. In the past, the Prince of Saudi Arabia signed a 30-year contract with Porto Montenegro to service his "golden fleet" of yachts.

CHARACTERISTICS:

Area (m²): 1873